Fast moving consumer goods major Hindustan Unilever has spun off the beauty and wellness businesses of Ayush Therapy centres and Lakme salons into a new subsidiary -- Lakme Lever Pvt Ltd.
The HUL board today approved the proposal.
Ashok Gupta, executive director, and D Sundaram, vice-chairman, will be directors at Lakme Lever along with Anil Chopra, who returns to the newly formed subsidiary.
Chopra had retired in mid-2008 from HUL as vice-president -- Lakme, Beauty & Wellness Services & HUL Network.
The service and wellness business of Lakme Lever will include the 140 Lakme salons and 40 Ayush Therapy Centres. Besides, eight of the Lakme Salons being company-owned the remaining Lakme salons and Ayush Therapy centres were operated on a franchise model.
HUL now will no longer be directly engaged in the services business of Lakme salons and Ayush Therapy centres.